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Industry
August 20, 2024
Gambling Harm May Increase under New Law, Warns Finnish Health Institute
Similar to other countries in Europe, Finland is planning changes to its regulated gambling sector. A proposal in the country seeks to set up a gambling licensing system that will pave the way for the expansion of the gambling options available to Finnish customers and the transition from a monopoly model to a competitive market. […]
Industry
August 12, 2024
Finnish Government Advised to Sell Veikkaus Monopoly Ownership
According to local consultant Jari Vähänen, Veikkaus, the Finnish government-owned betting agency holding a monopoly in the country, could gain an important competitive advantage over licensed operators. This could occur in 2027, the year that will mark the legalization of the online gambling market in Finland. Finnish Gambling Consultants (FGC) partner Vähänen implied the government […]
Legal
July 9, 2024
UK Man Sentenced in Finland after Defrauding Online Casinos
William Anthony Parker has been handed a prison sentence in Finland after stealing almost a million dollars from online casino operators. The Brit has been accused of hacking into two iGaming companies, stealing a total of $903,000. The 34-year-old, according to a local report, exploited a security vulnerability to hack into the two casino operators […]
Industry
July 3, 2024
Finland Wants to See Gambling Licensing System Up in 2027
In February, the gambling industry in Europe applauded Finnish monopoly Veikkaus’ support toward an open licensing system that would fight off illegal practices in the market. At the same time, the industry feared its support for a cooling-off period similar to the one that rocked potential entrants to the Dutch market. Today, Finland’s government tabled […]
Industry
May 16, 2024
Veikkaus Exec Predicts Finland Will Issue Licenses in September 2026
Currently, Finland’s gambling market operates under a monopoly model. This means that all gambling activities, including sports betting and iGaming, are offered by Veikkaus, the state-owned gambling operator. However, amid talks about a major restructuring of the sector, including a shift from gambling monopoly, the gambling industry is expected to look quite different in a […]
Legal
April 2, 2024
Finnish Court Suspends Order to Block Payments to Betsson
Several weeks ago, Finland blacklisted Betsson subsidiary BML Group, marking the first time it had taken such action against a Malta Gaming Authority-licensed firm. Under this ruling, Finnish banks, payment providers and cryptocurrency entities were required to block all payments from Finland to the operator. The decision to blacklist BML Group was made by the […]
Business
March 12, 2024
Betsson Brand Transfer Counters Finnish Payment Blockade
Betsson has made a strategic move amidst regulatory challenges, transferring its brands to a new holding company entity. This maneuver comes in response to Finland’s National Police Board (NPB) decision to include Betsson’s subsidiary BML Group Ltd on its payment blocking list, compelling the company to take decisive action to continue its operations. Betsson Hands […]
Business
March 8, 2024
Veikkaus Posts 2023 Results in Line with Expectations
The Finnish state-owned and monopoly operator, Veikkaus, released its latest financial report, uncovering details regarding its performance throughout 2023. Overall, Veikkaus Group’s sales revenue last year halted at €1.03 billion ($1.13 billion). This result, compared to the 2022 figure, showed a slight 3.5% decrease year-over-year. On the other hand, profits for the fiscal year reported […]
Legal
March 1, 2024
Finland Black-Lists Betsson Group’s BML Ltd amidst Legal Battle
In a historic move, Finland has black-listed BML Group Ltd, a subsidiary of the Betsson Group, marking the first instance of such action against a Malta Gaming Authority (MGA) licensed company. The decision comes in the wake of BML Group losing a legal battle against the Finnish National Police Council, leading to significant consequences, including […]
Industry
March 1, 2024
Finland Sees Uptick in Problem Gambling Numbers
THL, as the organization is known for its Finnish acronym, estimates that 4.2% of respondents to its survey are at risk of developing a gambling problem, or already suffer from one. Finland Sees Increase in Problem Gambling In other words, 150,000 people in the country may fall in this category, but the figure is doubly […]
